Tourism Strategy and SWOT Analysis
Added on 2020-05-28
8 Pages1987 Words57 Views
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Running Head: Business Environment 1Introduction to the Business Environment
Business Environment 2ContentsOverview..........................................................................................................................................3Use of various tools.........................................................................................................................3SWOT Analysis...........................................................................................................................3Strength....................................................................................................................................3Weakness..................................................................................................................................4Opportunities............................................................................................................................4Threats......................................................................................................................................4Resource audit..............................................................................................................................5Resource...................................................................................................................................5Skills.........................................................................................................................................5Capabilities...............................................................................................................................5Core competencies...................................................................................................................6Stakeholder mapping framework.................................................................................................6References........................................................................................................................................8
Business Environment 3OverviewBusiness analysis is a process by which a business can identify various opportunities,problem areas, understanding the roles and responsibilities and business requirements. For everytype of analysis, there are some sets of tools based on the needs and requirements of thebusiness. This report focuses on the use of some tools i.e. SWOT analysis, resource audit andstakeholder mapping framework in the specific industry (Kalkan, 2013). For the discussion in thereport, travel industry is selected. The report explains the benefits of these tools on individual asthe travel agent. Today’s unpredictable and highly competitive environment has strong impact onthe travel industry. The travel agents needs to continuously conduct environmental scanning andanalysis on the critical factors that may impact on the business operations. The strategic tools arehelpful in analyzing the business environment in the travel industry. Use of various toolsVariety of tools and techniques are developed to help the managers and agents in order toidentify and deal with the business decisions. These tools are helpful for me as a travel agent tocapture the information which is suitable for the decision making process. These tools arebeneficial and useful for me as the travel agent in terms of increasing awareness about businessenvironment, dealing with the strategic issues, identifying opportunities and threats andproviding framework for different business portfolios. SWOT Analysis Travel industry is the highly lucrative market for the growth of the economy. Strength ofthe industry is considered as the ability of the market to respond on time and provide customdesigned travel excursions to travelers. The SWOT analysis of travel industry is as follows: Strength Strength is the current factor that analyzes the outstanding performance of theorganization. Strength in the particular organization is the qualities that enable the organizationto achieve the goals and objectives. Strengths are beneficial factor of the organization whichincludes human competencies, process capabilities, products and services, financial resources,brand loyalty and customer goodwill. As the travel agent, I found that the analyses of strength
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